Financial responsibility

CSC’s objective is to provide non-profit services to its shareholders. Rather than operating on market terms, CSC provides services in the business areas and to the organisations specified by our shareholders, as stated in our Articles of Association. At CSC, financial responsibility means transparency, open financial management, and the provision of high-quality yet cost-effective services.

Financial objectives and their attainment

In 2019, CSC focused on transparency of costs, good cost management and cost-effectiveness. The performance regarding cost-effectiveness and cost management was good in the past accounting period. Transparency and reporting to all stakeholders were also improved successfully.

General economic growth also helped to improve CSC's finances and paved the way for healthy growth. The company’s growth during the financial period was positive and even exceeded expectations. Growth was achieved through expanding existing customer operations and new initiatives in various customer sectors.

The increased turnover also ensured a good profit level. Increasing the efficiency of internal operations kept the cost level in check. The relative cost level remained similar to previous years. Key indicators for CSC's financial performance and financial activities are presented in greater detail in the Financial Statements and Auditor's Report.

Key financial indicators

CSC’s turnover in 2019 was EUR 51.0 million.

Key financial indicators
Key indicators 2019
Operating profit 2,9 %
Return on equity 25,9 %
Return on investment 20,2 %
Quick ratio 2,9
Current ratio 1,1
Equity ratio 36,1 %
Gearing 22,2 %

 

Financial support received from the State

Financial support received from the State
Financial support received from the state
Government subsidy 3,936 milj. The government subsidy is intended for the development of computing service infrastructure, service concepts, and data warehouse services. 
Investment support from
the Ministry of Education
and Culture
13,813 milj. This support covers investments in the maintenance, monitoring and security of the state-owned and/or statefunded computational environment administered by the company

 

Solvency

 

Capital adequacy

 

Cash flow to stakeholders

Cash flow to stakeholders
Cash flow to stakeholders
Stakeholders Direct and indirect impact
Customers

Net sales 51,038 milj.

EU, Tekes and Academy of Finland
4,425 milj.  

Direct and indirect impact:
Through CSC, the Ministry of Education and Culture fulfils its obligation under the Information Management Act to promote cooperation
and IT system interoperability in the fields of education, science, culture and public administration. 

CCSC's customers are given access to scientific computing services, a world-class data network, and training and expert guidance in the
use of supercomputers.  

Indirect financial impact:
CSC has an impact on the competitiveness of Finnish research and education.

Suppliers -25,207 milj. 

Direct financial impact:
CSC primarily purchases goods and services from suppliers operating in Finland. 

Indirect financial impact:
Cooperation creates business opportunities and jobs for suppliers.

Personnel -27,808 milj.

Direct financial impact:
All of CSC's personnel are stationed in Finland. Salaries and bonuses have an impact on private consumption, and the taxes paid by
personnel contribute to social well-being. 

Indirect financial impact:
CSC uses training and task rotation to enhance our personnel's expertise and performance. CSC personnel have unique expertise in areas
such as scientific computing, data management, and storage services. 

Public sector -298 000 Taxes paid by CSC to the State
Support and donations given
to non-profit organizations
0 In accordance with its Code of Conduct, CSC does not make donations, support non-profit organizations, or sponsor any type of group
Shareholders 0 CSC does not pay a dividend. CSC's operating profit was transferred to retained earnings in its entirety. 
Funding agencies

-33 000

12 000

Funding expenses

Funding income

Result for the financial year 1,176 milj.   The profit for the financial year was transferred to retained earnings in its entirety.  
Investments: depreciation -953 000 Our own investments focus on the maintenance, monitoring and security of the state-owned and/or state-funded computing environment and data infrastructure administered by CSC.

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